Northrop Grumman (NOC) Lifted to Outperform at Wells Fargo & Co

Northrop Grumman (NYSE:NOC) was upgraded by stock analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, The Fly reports.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $347.00 price target for the company in a report on Friday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $315.00 price target on shares of Northrop Grumman in a report on Tuesday, January 9th. ValuEngine raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $317.00 to $355.00 in a report on Tuesday, December 12th. Finally, Cowen reaffirmed a “hold” rating and issued a $310.00 price target on shares of Northrop Grumman in a report on Wednesday, November 22nd. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $302.21.

Northrop Grumman (NYSE NOC) opened at $315.15 on Tuesday. The stock has a market cap of $54,860.84, a P/E ratio of 23.48, a PEG ratio of 2.85 and a beta of 0.69. Northrop Grumman has a one year low of $223.88 and a one year high of $315.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.05 and a current ratio of 1.21.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.76. The company had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.33 billion. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. Northrop Grumman’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $3.35 earnings per share. analysts predict that Northrop Grumman will post 13.19 EPS for the current year.

In related news, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the completion of the transaction, the vice president now owns 58,186 shares of the company’s stock, valued at $17,203,854.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Denise M. Peppard sold 2,328 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $300.86, for a total transaction of $700,402.08. Following the transaction, the vice president now directly owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,417 shares of company stock valued at $6,365,189. 0.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Hanseatic Management Services Inc. raised its holdings in shares of Northrop Grumman by 12.8% during the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 48 shares during the last quarter. People s United Financial Inc. raised its holdings in shares of Northrop Grumman by 9.2% during the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after purchasing an additional 40 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new position in shares of Northrop Grumman during the third quarter worth $144,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Northrop Grumman during the third quarter worth $154,000. Finally, WFG Advisors LP raised its holdings in shares of Northrop Grumman by 4.9% during the second quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock worth $152,000 after purchasing an additional 28 shares during the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

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Northrop Grumman Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

The Fly

Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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